Tesla Cofounder Aims To Rev Up U.S. EV Battery Market With $3.5 Billion South Carolina Plant

Redwood Materials is building a $3.5 billion near Charleston, South Carolina, as new battery plants are being built across the Southeast.Redwood Materials, the battery recycling and components maker created and run by Tesla cofounder JB Straubel, is accelerating its push to build a U.S. supply base for critical components for electric vehicle batteries with plans for a massive $3.5 billion plant in South Carolina.

Redwood Materials newest plant will be a closed-loop facility, recycling used batteries and turning the recovered materials into cathode and anode components needed by auto and battery makers.Auto and battery makers, including General Motors, Ford, Hyundai, Toyota, BMW, Volvo, Panasonic, SK Battery and Envision AESC, have committed tens of billions of dollars cumulatively for new plants to make battery packs for dozens of EV models coming to market.

Redwood has raised more than $1 billion from investors, including Ford, Fidelity, Bill Gates’ Breakthrough Energy Ventures and Amazon’s Climate Pledge Fund. It will be seeking additional funds to cover the $4.6 billion it is committing for both the South Carolina campus and its production facilities in Nevada, though Straubel declined to provide details about that effort.

Tesla received an ATVM loan that it used to buy and equip its first plant, a former Toyota-GM factory in Fremont, California, in 2010. Straubel joined the EV company in 2004 with Elon Musk, serving as its CTO until he left to start Redwood in 2019.Straubel declined to say which auto and battery companies will be buyers of the anode and cathode materials it will make in South Carolina, saying new partnerships would be announced later.

I extracted this from a closed loop of Elons mom.

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Tesla Cofounder Aims To Rev Up U.S. EV Battery Market With $3.5 Billion South Carolina PlantJB Straubel, Tesla’s former long-time CTO, is accelerating his plans to make battery recycler Redwood a major U.S. supplier of battery materials that are in increasingly high demand as automakers ramp up electric vehicle and battery pack production.
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Tesla Cofounder Aims To Rev Up U.S. EV Battery Market With $3.5 Billion South Carolina PlantJB Straubel, Tesla’s former long-time CTO, is accelerating his plans to make battery recycler Redwood a major U.S. supplier of battery materials that are in increasingly high demand as automakers ramp up electric vehicle and battery pack production. get this company on trading 212 and ill happily invest in these! Long overdue recovery and reuse
Source: Forbes - 🏆 394. / 53 Read more »

Tesla Cofounder Aims To Rev Up U.S. EV Battery Market With $3.5 Billion South Carolina PlantJB Straubel, Tesla’s former long-time CTO, is accelerating his plans to make battery recycler Redwood a major U.S. supplier of battery materials that are in increasingly high demand as automakers ramp up electric vehicle and battery pack production. Government subsidized of course I know how to build an device which don't need batteries and can to create an unlimited amount of energy. Humanity must switch to this technology before that minerals used for batteries will cost too much, will become too rare or their recycling will pollute too much.
Source: Forbes - 🏆 394. / 53 Read more »